Mumbai, Apr 5 : The Reserve Bank, in its latest announcement, has maintained its GDP growth projection of 7 per cent for the financial year 2024-25, a slight dip from the 7.6 per cent expansion estimated for FY24.
This decision aligns with the forecast made during the February monetary policy, where the RBI initially predicted a GDP growth rate of 7 per cent for the fiscal year starting from April 1.
RBI Governor Shaktikanta Das, while announcing the first bi-monthly monetary policy for the current fiscal year, highlighted the gathering pace of rural demand and the potential for sustained growth in the manufacturing sector to drive private investment. However, he also acknowledged the challenges posed by geopolitical tensions and disruptions in global trade routes.
Das outlined the country’s real GDP growth expectations, anticipating a 7 per cent growth rate for the fiscal year 2024-25. Specifically, he projected growth rates of 7 per cent for the June quarter, 6.9 per cent for the September quarter, and 7 per cent each for the third and fourth quarters.
Recently, Prime Minister Narendra Modi emphasized the need for the Reserve Bank to prioritize growth while maintaining focus on trust and stability. This directive underscores the importance of balancing economic objectives amidst evolving global and domestic dynamics.
